Guyasuta Investment Advisors Inc. Purchases New Position in ServiceNow, Inc. $NOW

Guyasuta Investment Advisors Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 329 shares of the information technology services provider’s stock, valued at approximately $338,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after acquiring an additional 297,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after buying an additional 188,292 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ServiceNow in the first quarter valued at approximately $1,817,535,000. Alliancebernstein L.P. increased its position in shares of ServiceNow by 16.2% in the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after buying an additional 242,132 shares in the last quarter. Finally, Amundi increased its position in shares of ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after buying an additional 626,623 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NYSE NOW opened at $936.76 on Friday. The stock’s fifty day moving average is $919.74 and its two-hundred day moving average is $926.99. The firm has a market capitalization of $194.85 billion, a P/E ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.13 EPS. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup boosted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. DA Davidson boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Guggenheim reiterated a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,976 shares of company stock worth $17,049,775. Insiders own 0.38% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.